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ABG > SEC Filings for ABG > Form 8-K on 5-Feb-2014All Recent SEC Filings

Show all filings for ASBURY AUTOMOTIVE GROUP INC | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.

Asbury Automotive Group, Inc. ("Asbury" or the "Company"), has announced that, effective June 30, 2014 (the "Separation Date"), Joseph G. Parham, Jr., the Company's Vice President and Chief Human Resources Officer, will resign from all positions with the Company.
In exchange for Mr. Parham's agreement to remain in the employ of the Company through the Separation Date and in lieu of any payments that may otherwise have been or become due to him under that certain severance pay agreement between Mr. Parham and the Company, dated May 3, 2010, as amended, Mr. Parham will continue to be entitled to his base salary in effect on the date hereof for a period of 12 months following the Separation Date. Mr. Parham will also be entitled to a cash payment (prorated through the Separation Date) based on the annual bonus paid to the Company's executive officers under the Company's annual cash incentive plan for 2014 and to continued health and dental insurance for 12 months following the Separation Date.

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